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Enhanced 403(b) Retirement Plans for Charities and Schools.

This act amends federal securities laws to simplify and enhance 403(b) retirement plans, which are typically offered to employees of public schools and non-profit organizations. The goal is to provide greater flexibility and potentially improve the offerings of these plans, leading to better retirement savings opportunities for citizens. It also requires employers acting as fiduciaries to review and approve investments, adding a layer of protection.
Key points
403(b) retirement plans for employees of schools and non-profits will operate under simplified rules.
This could lead to more investment options or lower administrative costs for plan participants.
Employers acting as fiduciaries for investment selection must review and approve investments, enhancing participant protection.
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Status:
Expired
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Additional Information
Print number: 118_HR_3063
Sponsor: Rep. Lucas, Frank D. [R-OK-3]
Process start date: 2023-05-02
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Retirement Fairness for Charities and Educational Institutions Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3063.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-05-02.

What are the main provisions?

Key points include:

  • 403(b) retirement plans for employees of schools and non-profits will operate under simplified rules.
  • This could lead to more investment options or lower administrative costs for plan participants.
  • Employers acting as fiduciaries for investment selection must review and approve investments, enhancing participant protection.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Lucas, Frank D. [R-OK-3].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 251.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-13.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Benefits Economy